Litecoin (and the other cryptos) recently hit oversold conditions again on 15-minute, hourly, and 4-hr charts. We're now seeing a bounce after hitting support at $206.
If this bounce is anything typical of the last bounce we had two days ago, we'll rally up to trend line resistance as well as the moving average resistance upper longer trend line (EMA55). If this is the case with this bounce, LTC could see a price between $240 and $250.
Resistance is at $236, but I believe this level won't prove to be too much of a challenge.
Prices have found moving average support on the 15-minute chart, so this is a good sign for the start of a bounce up trend.
Volumes are MUCH higher this bounce than they were a couple days ago, so this is positive for a movement direction which may indicate prices could pass the resistance and move to a higher level around $244-$248.
Happy trading!
**Great Article **
awesome content
upvoted
a repeating pattern down - why? people selling their btc to ltc and withdraw?
why is the overall crypto downspiralling now ?
mm rely expected an answer